Jul 25 Corn closed at $4.595/bushel, up $0 from yesterday's close.  Jul 25 Wheat closed at $5.285/bushel, down $0.14 from yesterday's close.  Jul...

U.S.-EU Delay Reckoning Brussels responded quickly to President Trump’s threat to raise tariffs to 50 percent. But a renewed commitment to negotiate...

Mediterranean/Middle East/North Africa/Africa – MEA Region Syria’s wheat crop is expected to be down by 75 percent this year due to severe drou...

Friday’s CFTC report showed that managed money traders are becoming increasingly bearish corn and the soy complex while gradually easing short bets i...

U.S. Cattle on Feed was down 2 percent from a year ago on May 1, 2025. Cattle in feedlots with capacity of 1,000 or more head and totaled 11.4 million.&nbs...

Pre-Holiday Trade There was higher volume trading soybeans today, but generally lower pre-holiday volume in other contracts. Despite an overall strong week...

Monday, 26 May is a U.S. holiday, the markets and our office will be closed. Please note that the next Ag Perspectives will be published on Tuesday, 27 May...

USDA released the monthly Cattle on Feed report today. The total inventory of feedlots of 1,000 head or more capacity is 11.4 million head, 98 percent of l...

Jul 25 Corn closed at $4.595/bushel, down $0.035 from yesterday's close.  Jul 25 Wheat closed at $5.425/bushel, down $0.02 from yesterday's close.&nbs...

Southern Plains cow-calf producers’ financial outlook continues to improve with the recent gains in feeder cattle prices and overall weakness in feed...

Dry-Bulk Ocean Freight Dry bulk markets remain essentially flat with cargo demand remaining “elusive”. Increased demand from China remains the...

Corn, soybeans, soymeal, and cattle closed higher, while wheat, soyoil, and hogs dipped. The reasons are varied but pre-holiday trading tomorrow could see...

Export Sales and Shipments for May 9-15, 2025  Wheat: Net sales reductions of 13,400 metric tons (MT) for 2024/2025 were down noticeably from the prev...

Jul 25 Corn closed at $4.63/bushel, up $0.02 from yesterday's close.  Jul 25 Wheat closed at $5.445/bushel, down $0.0475 from yesterday's close. ...

USDA’s monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to...

The CBOT was higher again on Wednesday with cool, wet weather for the U.S. Midwest causing planting delay concerns while hot, dry weather in the Black Sea...

EU Non-Proposal The EU has drafted a trade proposal for the Trump Administration that appears to be more fluff than meaningful stuff. Brussels offers to fo...

Jul 25 Corn closed at $4.61/bushel, up $0.065 from yesterday's close.  Jul 25 Wheat closed at $5.4925/bushel, up $0.0325 from yesterday's close. ...

Russian Grain Markets: 12 –16 May 2025 Crop Outlook 2025 The grain market was relatively stable, however, the gap between the new crop and old crop p...

Jul 25 Corn closed at $4.545/bushel, up $0.07 from yesterday's close.  Jul 25 Wheat closed at $5.46/bushel, up $0.17 from yesterday's close.  Jul...

The CBOT turned higher on Tuesday with wheat leading the way. Wheat turned higher overnight and started the broader CBOT rally as traders are increasingly...

Crunch Time The “Big Beautiful Bill” providing the tax cut extensions sought by President Trump is supposed to be passed by the U.S. House by M...

In Q1, U.S. pork exports to Mexico grew by 11 percent year-over-year according to the U.S. Meat Export Federation (USMEF). That’s despite U.S. export...

Mediterranean/Middle East/North Africa/Africa – MEA Region Bangladesh is expected to have a record maize crop in 2025 due to increases in planting ma...

Meat packer margins improved for the first time in several weeks last week with gains in beef and pork prices offsetting gains in market animal values. Bee...

Jul 25 Corn closed at $4.475/bushel, up $0.04 from yesterday's close.  Jul 25 Wheat closed at $5.29/bushel, up $0.04 from yesterday's close.  Jul...

The CBOT turned higher to start the week with wheat, corn, soybeans, and soy oil, all finding their way to higher ground amid a mix of factors. The big new...

Health and Human Services Secretary RFK, Jr. wants to stop demand for fake food colorings and Americans are slowing demand for fake food products. The dema...

I Don’t Care That is likely President Trump’s attitude toward the WTO General Council’s castigation of his tariff war. Understandably, WT...

On Friday, Moody’s downgraded the U.S, credit worthiness and warned about rising levels of government debt and a widening budget deficit, cutting its...

Corn   Farmers remain focused on the soybean harvest at the expense of executing fieldwork for corn. With favorable weather over the past few day...

Regional News  The weather for the UK and northern Europe remains a major concern for crops. The UK is currently experiencing its driest year of the 2...

Friday’s CFTC report showed that managed money traders are becoming split on their views for the grains and oilseeds complexes going forward. Funds w...

The CBOT was mostly bearish on Friday under the primary theme that big crops get bigger. That is true of Brazil’s safrinha production, the outlook fo...

U.S. farmers’ export markets were challenging before the trade war, and they are not coming back. It is time for Plan B. The trade agreement still be...

Jul 25 Corn closed at $4.435/bushel, down $0.05 from yesterday's close.  Jul 25 Wheat closed at $5.25/bushel, down $0.0775 from yesterday's close.&nbs...

The following is a rundown of some key issues impacting agriculture: Reconciliation: The reconciliation bill passed through the Agriculture Committee on a...

Transportation and Freight Market Comments Dry Bulk Markets  Dry bulk markets continue to drift sideways or lower as they wait for improved cargo dema...

Export Sales and Shipments for May 2-8, 2025 Wheat: Net sales of 58,600 metric tons (MT) for 2024/2025 were down 16 percent from the previous week, but up...

There was again a lot to unpack in today’s trade action, and not all of it was pretty. Big Crops: There is no getting around the fact that favorable...

Cattle supply still matters. USDA has announced the suspension of live cattle, horse, and bison imports from Mexico due to recent detections of New World S...

The Market  There were four big “stories” for oilseeds markets to follow this past week: the U.S.-China trade negotiations, the May WASDE...

Jul 25 Corn closed at $4.455/bushel, up $0.03 from yesterday's close.  Jul 25 Wheat closed at $5.2475/bushel, up $0.075 from yesterday's close. ...

Weather and Congressional tax policy were at the forefront of futures traders’ minds on Wednesday and these two factors drove much of the day’s...

Pesticide Assault The Wall Street Journal reported that RFK, Jr.’s intent to ban all pesticides is running into opposition from other officials in th...

As noted yesterday, global wheat consumption has been growing faster than the expansion in production. Sometimes it takes non-agricultural researchers to l...

Russian Grain Markets: 5 – 9 May 2025 Crop Outlook 2025 Russian analysts from IKRAR increased the wheat production forecast in Russia by 1.3 MMT to r...

Jul 25 Corn closed at $4.425/bushel, down $0.055 from yesterday's close.  Jul 25 Wheat closed at $5.1725/bushel, up $0.02 from yesterday's close. ...

The CBOT was mixed trade Tuesday following the May WASDE and USDA’s first complete look at the U.S. and world 2025/26 balance sheets. With the WASDE&...

Phase II Deal U.S. Treasury Secretary Scott Bessent suggested that a phase-one deal may be a model for trade talks with China. It may be the only model tha...

USDA’s May WASDE report was perhaps surprisingly bearish wheat. Futures hit yet more new record lows again today. For the U.S., USDA found higher yie...

USDA’s outlook for 2025/26 U.S. soybeans is for lower ending stocks: The U.S. share of global soybean exports is forecast at 26 percent - down from 2...

USDA’s outlook for 2025/26 U.S. corn is for record supplies and total use: Higher ending stocks are expected to result from 15.8 billion bushels of c...

USDA’s outlook for 2025/26 U.S. wheat is for supplies to be up 2 percent from 2024/25 as higher beginning stocks more than offset lower production. T...

The May WASDE included this disclaimer:  Effective May 11, 2025, the USDA announced the suspension of live cattle, horse, and bison imports from Mexic...

Meat packer margins worsened again last week as profits for both beef and pork packers declined. Beef packer margins were sharply lower and hit another rec...

WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...

WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...

WPI offers the following PDF of key supply and demand tables and charts relating to the USDA’s latest WASDE report. This is not an all-inclusive comp...

Jul 25 Corn closed at $4.48/bushel, down $0.0175 from yesterday's close.  Jul 25 Wheat closed at $5.1525/bushel, down $0.065 from yesterday's close.&n...

A tariff truce, export inspections, WASDE and crop progress. Monday was action packed and the much-anticipated USDA May WASDE report did not disappoint. In...

Corn   Argentina’s corn harvest continues to progress slowly, not only because the focus remains on soybeans — with more than 21 perc...

After weeks of Chinese denials that they were engaged in talks with the U.S on tariffs, the governments of the United States and the People’s Republi...

Regional News  France and Romania are lobbying for stricter alignment of Ukrainian grain terms with EU standards. The move comes as concerns about log...

Friday’s CFTC report highlighted funds’ increasingly bearish view on ag commodities with managed money traders emerging as net sellers across t...

It was another day of trading in the green in the overnight for grains and the soy complex only to fail following through in the day session for wheat and...

Jul 25 Corn closed at $4.4975/bushel, up $0.0225 from yesterday's close.  Jul 25 Wheat closed at $5.2175/bushel, down $0.075 from yesterday's close.&n...

Yesterday, President Trump announced from the Oval Office a trade deal “in principle” with the UK, the first of its kind following the reciproc...

With markets awaiting the May WASDE and USDA’s first comprehensive look at the 2025/26 crop balance sheets, many traders and analysts are looking for...

Soybeans and soyoil held their gains from higher overnight closes, but the guidance of being higher to neutral overnight in corn, wheat and meal was reject...

Export Sales and Shipments for April 25-May 1, 2025.  Wheat: Net sales of 69,700 metric tons (MT) for 2024/2025 were down 3 percent from the previous...

Jul 25 Corn closed at $4.475/bushel, down $0.0175 from yesterday's close.  Jul 25 Wheat closed at $5.2925/bushel, down $0.05 from yesterday's close.&n...

The U.S. beef cow herd stabilized somewhat in 2024. The average culling rate was 10.5 percent, but with a beef cow herd of 28 million, the cull rate would...

The Market  Soybean futures have mostly traded sideways over the past two weeks with trade policy uncertainty, favorable weather for the U.S. and Sout...

The CBOT turned higher overnight after late Tuesday announcement of a China/U.S. meeting in Switzerland to discuss tariffs and reduce trade tensions. The f...

This is a list of vignettes about the most consequential politician of our times. Donald Trump is not complicated if one just reads the rants of his oppone...

Jul 25 Corn closed at $4.4925/bushel, down $0.0625 from yesterday's close.  Jul 25 Wheat closed at $5.3425/bushel, down $0.0175 from yesterday's close...

Russian Grain Markets: 28 April – 2 May 2025 Russian audit, corporate finance, and consultancy company BEFL published a rating of Russia’s larg...

The CBOT was mixed on Tuesday following Monday’s drubbing across the grains and oilseeds markets. Tuesday saw continued selling pressure in the soy c...

Jul 25 Corn closed at $4.555/bushel, up $0.0125 from yesterday's close.  Jul 25 Wheat closed at $5.36/bushel, up $0.0475 from yesterday's close. ...

President Trump is using tariffs to rectify what he asserts is the unfair practices by other countries. He also accuses trading partners of currency manipu...

Real GDP dipped at a -0.3 percent annual rate in Q1, the first decline for any quarter since 2022. However, the main reason was that trade with other count...

Mediterranean/Middle East/North Africa/Africa – MEA Region Iran’s 2025 wheat production is being hurt by very dry weather. Rainfall up to Febru...

Meat packer margins worsened last week for both the beef and pork sector as higher animal costs exceeded any gains in meat values. Beef packer margins fell...